• Muslims try to bury their dead ASAP.
• Family or community members wash and shroud the body in scented water and clean white cloth.
• The body is positioned so that the head is facing Mecca. The average adult Islamic funeral, before the cost of burial, was $6,550 in 2009, according to the National Funeral Directors Association.

Tibetan Buddhist Sky Burial:

• The traditional Tibetan Sky Burial involves a corpse being dismembered by trained professionals and left outside (in one of the 1075 sky burial sites) for animals to feast upon. Today, 80% of Tibetans choose to have Sky Burials.

• Going “Green?” People are forgoing traditional methods for environmentally friendly burials.
• Why expose the Earth to unnecessary embalming chemicals or steel caskets.
• Opts for biodegradable caskets or having your remains turned into an artificial reef? Factoid: Americans currently bury around one million tons of steel caskets each year.

Ngaben:

• Balinese cremation ceremony is performed to send the dead onto their next life, and is considered a sacred duty.
• The dead are placed inside a coffin, which is then placed inside a structure resembling a buffalo or temple.
• The structure is carried to the cremation site and set aflame. In group ceremonies upwards of 60 people’s remains were cremated at one time.

Ghana’s Elaborate Custom Coffins:

• In Ghana it is popular to bury loved ones in coffins that represent certain aspects of them, generally either an occupation, or something they loved.
• For example, a farmer might be buried in a coffin that was built to resemble an ear of corn, or a businessman could be buried in a coffin resembling a plane.

Famadihana – The Turning of the Bones:

• The Malagasy people of Madagascar have a famous ritual in which every five to seven years, the family has a celebration at its ancestral crypt.
• The cloth-wrapped bodies of the deceased are exhumed and sprayed with wine or perfume, before being brought out for family members to dance with while a live band plays.

Space Burial:

• Money can buy you anything, even a burial in space.
• The first of these burials took place in 1997 and contained ashes of 22 people (including Timothy Leary and Gene Roddenberry).
• Cost, depending on how far you want your ashes to go, $1,000 – $12,000.

No Longer Practiced

Sokushinbutsu:

• Originating over 1000 years ago, Sokushinbutsu was practiced by a sect of Buddhist monks, and resulted in self-mummification.
• Process that involved eating nuts, bark, and drinking poisonous tea, and took over 3000 days to complete.
• Though hundreds of monks tried, only 16 – 24 were successful.
• Sokushinbutsu is now illegal in Japan.

Hanging Caskets:

• Though now a long lost civilization, The Bo people of the Hemp Pond Valley in Southwest China’s Gongxian County, would use two wooden poles inserted into the rock to suspend caskets containing the dead on high cliff faces.
• Over 160 coffins were placed along the cliffs and natural caves. Today locals refer to the Bo as the “Sons of the Cliffs”.

Sati:

• Now banned in India, Sati was the practice of recently widowed women throwing themselves on the funeral pyres of their husband’s bodies.

Grave Robbers

Protect Your Family Against Grave Robbers

It’s no surprise that identity thieves are running rampant, however it’s a shocking fact that these scammers are using the personal information and vital statistics of more than 2,000 deceased people every day. An ID Analytics study recently revealed that the misuse of social security numbers belonging to the deceased occurs more than 1.5 million times every year. Are the identities of your deceased loved ones protected from these identity thieves?

Protect Identity Today

In the same way people provide protection for their families using funeral insurance to cover funeral costs and burial expenses and replace lost income after a death, many people today are also taking additional steps to ensure their loved ones left behind aren’t abused by scam artists.

Be proactive to protect your family. Take the proper steps to provide protection against identity theft while you are alive. Enroll in a service like LifeLock.com to monitor credit reports and inquiries, applications for utility and wireless service, and many other aspects of personal information to reduce the risk of exposure. Monitor your online bank activities, guard your social security number and private information, and keep your digital devices protected with reliable security software to deter fraudsters from gathering your personal data and vital statistics.

Make Final Preparations

Coping with the loss of a loved one is emotionally and physically challenging for most people, and on top of the grief, it often takes weeks, or even months, to notify creditors and vendors after someone dies. Unfortunately, scammers and identity thieves get started immediately after they see perform an obituary search or read a newspaper report that announces a death.

Assign a friend or relative to take charge of reporting your death immediately. Or consider hiring a funeral estate planning attorney to handle all notifications. Recommendations from AARP.com include contacting the Social Security Administration (1-800-772-1213), sending death certificates to the three major credit reporting agencies—Experian, Equifax and TransUnion—and asking financial institutions and creditors to mark accounts closed due to death. The IRS should also be notified as soon as possible to prevent fraudsters from filing for a tax refund with the deceased person’s information or claiming the deceased as a dependent on future returns.

Block the Channels

The best time to consider identity theft is before it happens. Make sure you create a love drawer with a list of everyone—businesses, government agencies and individuals who have access now, or might have acquired your information in the past. Include medical providers, lawyers, the IRS, the Social Security Administration, banks, creditors and even your landscape and pest control contractors.

Prepare a simple form letter that informs recipients of your death in advance. Assign someone to mail these letters, preferably by certified mail, immediately after your death. Ask your designated helper to cancel your voter registration card, drivers license and online social media accounts (learn more about digital estate planning).

Work With the Credit Bureaus

The credit reporting agency Experian advises that credit bureaus periodically update records with information received from the Social Security Administration to flag files when people pass away. It could take up to six months for the information to be transferred so, having someone designated to report the death is preferable to waiting for agency notification. To protect against fraud, survivors should request credit reports every few months after a loved one passes to be sure no one is trying to assume the deceased identity.

Burial Insurance

10 Key Things to Know About

Burial Insurance

The Average Cost of a Funeral: $7,000-$10,000
The Average Cost of a Burial: $5,000-$7,000TOTAL Funeral and Burial Costs: $12,000-$17,000

According to AARP (www.AARP.org), the average cost of a funeral for most families is approximately $10,000. Depending on a wide variety of individual factors and circumstances, this average cost could arguable by much lower…or much higher. However, when you consider the fact that your family and loved ones could be forced to deal with a large number of financial choices and decisions that add up to such significant funeral costs, creating an end of life plan and looking into burial insurance is something that nobody should overlook or ignore.

Funeral Consultant

What is a Funeral Consultant?

Perhaps you have never heard of a Funeral Consultant? Well even if you have not, you probably agree that when it comes to life’s most important and challenging decisions, seeking professional guidance and support is a good idea. You probably also agree that professional planners, such as wedding planners, can be sanity savers. Let’s take a wedding for example. Many people prefer to hire a wedding planner. Why? Mainly because they want a professional consultant to assist them along the way with the large number of emotional and financial decisions in planning this important once-in-a-lifetime event.

Why Hire a Funeral Consultant?

Most weddings are usually planned within a 6-12 month time frame. However, planning a funeral is usually done within a 24 to 48-hour time frame, and involves making over 150 important decisions. Studies prove that when most families are faced with the task of planning a funeral say they are largely unfamiliar, uncomfortable, and unprepared.

So similar to a wedding planner, a Funeral Consultant’s job is to help families make an important and difficult situation easier. Funeral Consultants are professionally engaged, but have the unique advantage of being experienced while not emotionally attached to the event. Funeral Consultants are trained and educated professionals whose job is solely to educate and guide you through one of life’s most challenging experiences.

Funeral Consultants are responsible for exactly what most families are searching for, which is being educated on a large number of funeral and/or cemetery options, helping you make decisions when you get stuck, keeping you within your budget, and making sure you know what you are doing – and that you don’t forget anything.

4 Ways Family Funeral Consultants Help Families

1. When a death occurs
2. If a death is expected
3. Planning in advance
4. Grief counseling and coaching

One Example of How Funeral Consultants Can Help You Save Money

In a recent survey of just one small community’s funeral homes and cemeteries, a basic cremation started at $710 at one establishment, but cost as much as $3,820 at another. Likewise, direct burial costs ranged from $1,695 to $4,455. The same casket cost was $996 at one place, but $4,200 at another. Cemetery opening and closing fees can vary by more than $2,000, depending on the cemetery and day of the week you choose. In just this particularly local community survey, there were 15 funeral homes and 13 major cemeteries. So how would a family know how to choose from among them? The answer is simple. Consider hiring a Funeral Consultant.

Funeral Consultants research and negotiate the prices for funeral home and cemetery services in a given area. Serving as part family advocates and part event planners, a Funeral Consultant can show you side-by-side comparisons of all of the cemetery or funeral home services, your options, and your costs in your local area. They can also help connect you to other funeral planning resources, including financial aid and support.

According to AARP, the average cost of a funeral today is approximately $10,000. (Note: This does not include the cost of the cemetery plot and associated fees for the monument, and much more.) The average funeral insurance policy that most people buy to pre-pay their funeral costs in advance is approximately $5,000. Getting help from someone who knows how this entire process works, and also knows your local options, just makes sense.

It’s Not Always Just About the Money

Rather than dress up and rush into a funeral home being unfamiliar, uncomfortable, and unprepared, most people prefer discussing their all-important funeral or cemetery arrangements in the comfort of their own home, among their family, friends, and loved ones. Rather than listen to strange terminology and make expensive decisions on the fly, most people prefer a third-party and independent professional to help guide and support them through this difficult and time-sensitive process. Rather than being uncomfortable or afraid to ask certain questions, most people prefer having the option and flexibility to say or ask things like: “That seems too expensive” or “We cannot afford that” or “What other options do we have?” or “What do other funeral homes or cemeteries charge in my local area?”

In addition, many families want their Funeral Consultant to join them at the funeral home or cemetery arrangement conference, which can be an option. Funeral Consultants can also be an excellent resource when it comes to matters related to aftercare planning, such as stopping bills and utilities, work with outstanding debts, working with insurance carriers, estate and tax planning, and more.

How Much Does a Funeral Consultant Cost?

For a set fee, Funeral Consultants will take care of all the tasks, price negotiations, and coordination details, freeing family members from this obligation and helping them arrange the funeral they want within their budget. With the average Funeral Consultant fee being $500, and the average family savings over $3,500, hiring a Funeral Consultant is a good investment. But keep in mind that by minimizing or eliminating a lot of the financial and emotional stress associated with families and funeral planning, most families will tell you that value-added services of a Funeral Consultant can be priceless.

For more information, or to find a local Funeral Consultant, click here.

Death and Funeral Planning

Why are Funeral Planning and Death

Considered Taboo Conversations?

There are few things in life that are certain, but one thing that can be relied upon is that we will all die. Although death is an absolute certainty for every single one of us, society at large still seems to find it difficult to discuss funeral planning, death and dying. Death has always been something of a taboo subject, but even in these relatively enlightened times it is still a topic that causes some to react with disgust, fear or denial.

As a result, to plan a funeral for yourself or a loved one can be tricky at best. It is important that everyone gets the kind of funeral plan that respects their beliefs and wishes. However, if these are not discussed in advance, it is difficult for those left behind to know how the best ways to handle these difficult decisions after a person has died.

Fear of Death and Dying

It’s understandable that, as a species intent on survival, we are reticent about discussing our inevitable demise. Fear of death can encompass a number of things including concerns about grief and loss, worry about pain or suffering, fear of the unknown, and bereavement. There is also the sense that in death, things that an individual values such as family, friends and loved ones will be lost.

Many people have superstitious beliefs concerning death and dying that can hinder their willingness to talk about their end of life plans and preferences – and what should happen after they’re gone. The belief that talking about death is somehow “tempting fate” or will hasten death is common and will cause problems with making clear plans for what should happen after death.

Some deaths are more predictable than others, and those people who are diagnosed with a medical condition with a prognosis of shortened life may be in a better position for terminally ill planning since they have “some” idea of how much life they have left. Still, even those people for whom death is imminent may not wish to talk about it.

Death and Money – The Perfect Storm of Taboos

If there is one topic that draws an equal amount of discomfort for open discussion, it is an individual’s personal financial affairs. In working through a funeral planning checklist, the subjects of money and death are brought together in a clash of two of the strongest taboo subjects for discussion in polite conversation.

According to AARP, today’s average funeral costs can run upwards of $10,000. Clearly this is no small consideration when facing things like funeral estate planning and finding the money to pay for the essentials after a death. In addition to adding the stress of finding this money to the worry about doing the right thing, you also have the drawbacks of not discussing how to plan your funeral with loved ones when the opportunity has always been available. So these drawbacks significantly outweigh the discomfort of talking about things that are often left unsaid.

An Open Conversation About Death

Although it is hard for some people to talk about dying, it is an extremely important conversation to have. Without an understanding of what a person’s wishes are for their end of life funeral arrangements, families can be left in a difficult position of trying to second guess what their loved one would have wanted after their death. Don’t leave it too late to have the conversation.

If you preplan a funeral, it gives you the opportunity to talk about preferences, funeral costs, and the way in which you want to be remembered. This includes even the little details such what you want to say in your obituary, what kind of memorial service you would like, what to put on your monuments or head stone, or even new memorial technology for gravestones.

Getting your funeral plan, preferences, and finances in place early means that both the dying person and the family left behind have the peace of mind to knowing that the right thing was done, and the funeral plan and money are available to ensure the deceased’s wishes are fulfilled.

Conclusion

Death and dying is one of the final taboos for discussion in our society. However, making sure that everyone is clear about what they want in death and their wishes for their funeral can bring peace of mind to all concerned.

How to Prepay Your Funeral Expenses…
And Why?

According to AARP (www.aarp.org), the average cost of a funeral today is approximately $10,000. So by preplanning a funeral and creating an end of life plan, your are certainly doing a wonderful thing by helping to alleviate many of the funeral planning challenges.

Therefore, over 60% of people who are willing to selflessly take the time to create an End of Life Plan will also choose to prepay their funeral expenses. By taking care of your funeral costs and expenses in advance, this is yet another added value. Prepaying your funeral costs is another way of leaving behind a memory of how much you cared for your family and loved ones, rather than leaving them to deal with these financial challenges.

While you need to learn and understand the three most common ways to preplan a funeral, you should also be familiar with the various ways of prepaying your funeral expenses, since this is one of the fastest growing and widely-accepted aspects of the funeral planning process.

Similar to preplanning your funeral, most financial professionals agree that prepaying your funeral expenses should be a standard topic of discussion when creating a financial plan and estate plan.

The most common and widely used strategies to prepay your funeral expenses are savings, life insurance, and funeral insurance (also referred to as burial insurance), mainly because they tend to be deemed the most reliable and readily available. However, there are several other finance advice strategies to consider when prepaying your funeral costs or expenses:

Savings

Although many people choose to set aside savings to pay for their end of life plan and funeral expenses, there are several reasons this does not always end up working out as originally planned. First, the savings can be depleted based on unexpected financial circumstances, such as health or financial issues. Second, these funds are not always readily available and liquid upon death due to the challenges and restrictions often found in estate planning. Third, the funds set aside can often be insufficient due to inflation and the rising cost of funeral expenses. Finally, it should be noted that savings are included in a part of one’s estate, and, thus, the taxable consequences can often come into play.

Life Insurance

Term Life Insurance is widely considered to be a flexible, simple, and affordable way to pay for your final funeral expenses. Although Term Life Insurance has a set term, or set number of years, it also has multiple uses in prepaying for your funeral. Because upon your death it becomes a liquid asset that is usually not part of your estate, it can be used for many things such as your funeral or memorial services, burial expenses, cremation, liquidity, and many other things, including debts or obligations.

In addition, there are some types of life insurance that allow the funds contributed to these policies (either in lump sum, monthly, quarterly, semi-annually, or annually) to grow and accumulate as a cash value that can be accessed if necessary. Therefore, these policies can not only be used for funeral expenses, but also for other financial planning options that may arise such as financial emergencies, and college.

Funeral Insurance

Funeral insurance is an insurance policy which is specifically designed to cover any costs or expenses which are directly related to your funeral. If you purchase one of these policies, one of the options you have is to determine exactly which funeral costs or expenses are to be covered, such as funeral flowers, burial plot, grave marker, and much more. Another option you have is for the policy to be paid out in a single lump-sum, which can be used to cover your pre-determined costs or expenses, or simply help your loved ones financially as they plan for you. There are many insurance companies that offer funeral planning packages, and certain funeral homes or funeral companies also offer funeral insurance policies.

Pre Need Trust Agreements

Another alternative to prepaying your funeral is to consider a Pre Need Trust Agreement to pay for your costs or expenses. Generally speaking, these Trust accounts are typically funded with monthly payments that are invested in a fund which is designed to grow over time. Although a Trust account is designed to provide the potential for protection against inflation, it is not guaranteed to do so.

Get Help

Although the large majority of the funeral industry will tell you that most funeral costs can range anywhere from $5,000 – $10,000, it is very common for funerals to cost much more or maybe even less.

Also, as with any important financial decision or investment, there are many advantages and disadvantages to each of the options mentioned above. Before choosing a policy, it is important to consider many things, including but not limited to your age, health, financial status, objectives, liquid assets, tax issues, estate tax issues, family needs, etc.

In summary, although nobody likes to think or talk about dying, it is one of the facts of life we all must eventually face. If you are trying to build a successful financial plan, the only way you can be sure your plan works smoothly and efficiently is to be proactive about your planning process. This is particularly true and necessary when creating a proper plan of succession, and everyone should consider including an end of life plan.

Please consult with your attorney or financial advisor before applying or purchasing any of these policies, pay close attention to your specific state requirements, and also the financial strength and claims paying abilities of each company, funeral home, etc.

Pre Need

Preplanning for Funeral Costs and Expenses

The final expense cost of regular adult funeral including basic items, can be significant. To give you a quick overview of the funeral costs, we’ve developed a quick chart. Keep in mind, these basic items do not include cemetery costs, cemetery monuments, or grave marker costs – nor any other miscellaneous charges such as for funeral flowers or obituaries.

Funeral Costs

Top 10 Reasons to PrePlan Your Funeral

When You Die, Show Your Family How Much You Love Them…
Minimize Their Emotional and Financial Pressures

When you die, it should be obvious that your family and loved ones will be emotionally devastated as they try to cope with this grief and loss, but adding the stress of funeral costs and funeral plans is a burden you can help relieve. So knowing these facts, one of the greatest gifts of love is to minimize (or preferably eliminate) as much of the emotional and financial pressures as possible.

The sad reality is that more than 70% of those who die today fail to leave behind as much as a Last Will for their family and loved ones. As unacceptable as that may sound, it gets even worse. More than 85% of those who die today leave their family with no knowledge of their end of life plans, preferences, or how to pay for their funeral expenses.

Top 10 Reasons to Preplan Your Funeral

1. Upon your passing, most people don’t have any idea how to get started, what they should know, or who they can turn to. If you preplan a funeral or burial arrangements, this significantly minimizes the stress and pressures that can accompany such a difficult time of grief and loss.

2. This advanced planning offers you the opportunity to decide and control just about every detail of your memorial service and how you will be remembered.

3. By documenting your last wishes, you can ensure that you and your remains are handled, cared for, and placed somewhere that fits you and your preference.

4. By creating a plan for your final affairs, this can also minimize or eliminate any uncertainties or disputes among your family members. For example, one of the small details that can actually cause serious family disagreements are special family heirlooms.

5. Preplanning takes the guesswork out of the common questions of “what do we do next” or “what would you have wanted”? A properly structured preplan ensures that your loved ones know exactly what to do, as well as instructions on how to most efficiently implement your bequests.

6. After suffering the loss of a loved one, some of the biggest challenges your family will face are thing like time constraints, little or no experience with these matters, and limited access to the best possible help and guidance. Therefore, one of the biggest advantages of creating a sound end of life plan is that, if it is properly structured, it can reduce (or even eliminate) the large majority of these difficulties.

7. Through preplanning your funeral, as well as paying for your burial and covering your final expenses in advance, this creates a much better overall experience and memorial service for you, your family, and even your Funeral Director.

8. Since preplanning reduces or avoids a great deal of the obstacles involved in planning a funeral, this extra time allows your family to work through other important matters such as dealing with the grief and loss, planning your memorial service, notifying your loved ones, creating your obituary, writing a funeral eulogy, etc. The more free time your family has, the much more likely it is they can create a truly special celebration of your life and memories.

9. After completing your preplanning preferences for your family, this actually ends up enhancing your future too. By having these details planned out in advance, you can now enjoy the “peace of mind” to live every day knowing that you have taken the time to leave behind one of the greatest gifts of love.

10. By selflessly taking the time to create a comprehensive end of life plan, you will always be remembered in a special way. Your family and loved ones will never forget the fact that you sacrificed your time and resources to take care of these all-important details. In reality, what you’ve done is created an everlasting memory that shows just how much you truly love the ones you care most about.

Action Item – Give Your Family What They Deserve:

When it comes to the things that are important in our lives, proper planning and preparation are some of the key to a successful outcome. In this situation, my sincere hope is that these 10 reasons serve as an inspiration and incentive to start this planning and preparation today, and become proactive about these all-important estate planning matters.

Although most families never talk about these kinds of things, just about every family member and loved one would prefer to have these plans in place. Quite frankly, I think they should demand this from you. So at the very least, leave your family with two things they absolutely deserve:

End of Life Planning

Your Family-Focused Gift of Love

Like so many families, when we suffered the loss of my mother last year we faced the difficult decision of what to do next. Because we were never willing to accept this as a possible outcome, nor did we think about planning in advance for this incomprehensible loss, we had no idea where to begin or who we could turn to.

Most people tend to overlook one of the greatest gifts you will give your family, which is properly preparing them for the inevitable. At best, you might have started your estate planning process by creating and choosing a Last Will or Living Trust.

However, the harsh reality is that approximately over 70% of Americans have no form of estate plan. So by having a will or Trust, you have clearly taken a step in the right direction toward preplanning your future financial wishes. The problem is, this form of planning fails to accomplish the most important task, which is addressing your family’s immediate concerns.

The person, or in most cases people, responsible for taking care of your final arrangements are usually forced to make extremely important decisions, as well as major financial purchases, within a small time frame…usually within approximately 48 hours after your death. Of course, you cannot expect to fully alleviate the emotional and financial stresses of your loved ones during such a difficult time, but you can help them tremendously by having a plan that outlines your funeral wishes.

Most financial professionals are realizing that an integral part of a sound financial and estate plan is taking care of your funeral services ahead of time. To preplan a funeral gives you the ability to choose your method of disposition, the exact type of services you want, and allows your family to focus more on things such as grieving and recovery. In addition, preplanning is also a good thing for you because it allows you to make extremely important decisions through a calm and clear thought process. Emotionally, it is much more likely that you will create a more rational and logical end of life plan.

When preplanning your funeral, here are several general guidelines to begin your preplanning process:
* Visit various funeral homes and interview multiple funeral directors
* Choose a funeral home and director where you think your family would be most comfortable
* Consider bringing family members with you during this selection process
* Be aware and informed of bereavement entitlements such as veterans, unions, fraternities, etc.
* Consider religious and moral convictions, and discuss them with your family
* Determine your method of disposition (burial, cemetery, entombment, cremation, etc.)
* Plan your ceremony considering things like casket viewing, religious aspects, who should be included, etc.
* Itemize your costs
* The Federal Trade Commission offers a free funeral planning guide titled “Caskets and Burial Vaults” (202-326-2222) which has made it easier for consumers to comparison shop.
* The FTC Funeral Rule requires funeral directors to give pricing information over the phone, as well as provide you with a readily available General Price List if you visit them in person. This FTC Funeral Rule also allows you to purchase caskets, which are the single largest funeral expense, from outside vendors without the threat of a carrying charge.

What About Paying For Funeral Expenses In Advance?

Although planning your funeral arrangements in advance may help alleviate many of the details, prepaying (also known as prearranging or a Pre Need Plan) for your funeral services is a way of taking care of the actual expenses.

Prepaying your funeral or cremation is one of the fastest growing, and most appreciated and accepted aspects of funeral planning. Similar to preplanning your funeral, paying your funeral expenses in advance is also becoming widely accepted by many financial professionals as a solid piece of a sound financial and estate plan.

When prepaying your funeral plan, the most common and widely used strategies are savings and life insurance, mainly because they tend to be deemed the most reliable and readily available. However, there are several other strategies to consider when prepaying your funeral costs or expenses:

Savings

Although many people choose to set aside savings to pay for funeral expenses, there are several reasons this does not always end up working out as originally planned. First, the savings can be depleted based on unexpected financial circumstances, such as health or financial issues. Second, these funds are not always readily available and liquid upon death due to the challenges and restrictions often found in estate planning. Third, the funds set aside can often be insufficient due to inflation and the rising cost of funeral expenses. Finally, it should be noted that savings are included in a part of one’s estate, and, thus, the taxable consequences can often come into play.

Life Insurance

Term Life Insurance is widely considered to be a flexible, simple, and affordable way to pay for your final funeral expenses. Although Term Life Insurance has a set term, or set number of years, it also has multiple uses in prepaying for your funeral. Because upon your death it becomes a liquid asset that is usually not part of your estate, it can be used for many things such as funeral, burial, cremation, liquidity, and many other things, including debts or obligations.

In addition, there are some types of life insurance that allow the funds contributed to these policies (either in lump sum, monthly, quarterly, semi-annually, or annually) to grow and accumulate as a cash value that can be accessed if necessary. Therefore, these policies can not only be used for funeral expenses, but also for other financial planning options that may arise such as financial emergencies, college, etc.

Funeral Insurance

Funeral insurance is an insurance policy which is specifically designed to cover any costs or expenses which are directly related to your funeral. If you purchase one of these policies, one of the options you have is to determine exactly which funeral costs or expenses are to be covered, such as flowers, burial plot, grave marker, and much more.

Another option you have is for the policy to be paid out in a single lump-sum, which can be used to cover your pre-determined costs or expenses, or simply help your loved ones financially as they plan for you. There are many insurance companies that offer funeral insurance packages, and certain funeral homes or funeral companies also offer policies.

Pre-Need Trust Agreements

Another alternative to prepaying your funeral is to consider a Pre-Need Trust Agreement to pay for your costs or expenses. Generally speaking, these Trust accounts are typically funded with monthly payments that are invested in a fund which is designed to grow over time. Although a Trust account is designed to provide the potential for protection against inflation, it is not guaranteed to do so.

Take the First Step Today

In summary, although nobody likes to think or talk about dying, it is one of the facts of life we all must eventually face. If you are trying to build a successful financial plan, the only way you can be sure your plan works smoothly and efficiently is to be proactive about your planning process. This is particularly true and necessary when creating a proper plan of succession, which I firmly believe should include an end-of-life plan.

End of Life Plan

Creating an End of Life Plan…

And Leaving the Gift of a Lifetime!

Sometimes I feel as if I am the only person in America who is speaking about one of the most important plans you can create, an End of Life Plan. The harsh reality is that very few individuals, families, or even financial professionals are regularly teaching, practicing, or implementing End of Life Plans.

Nothing Good Comes Easy

Why is that that more than 80% of people in America die without leaving behind their End of Life Plan and preferences? I believe it is because these are the only types of plans that directly addresses death and dying. Therefore, most people would prefer to overlook or ignore this type of conversation. The problem is that, in doing so, you are leaving these matters to your spouse, children, and/or family members – to pile on top of what is already one of the most difficult times of their lives.

The fact of the matter is that an End of Life Plan should be a standard and routine part of a comprehensive financial or retirement plan. Period. It is the missing piece to the financial services puzzle that needs to be fixed.

Fact: Some Day You Will Die

Sure, the last thing any of us want to do is talk or think about is how to plan a funeral. And this is not just “a funeral”, but rather your own personal funeral. So I get it. I fully understand why an End of Life Plan is not such an easy and comfortable discussion. However, some day every single one of us will die (hopefully later versus sooner), but we will die. So this means that “someone” is going to be forced to deal with planning your End of Life Plan and preferences.

So ask yourself this question; “Would you rather take care of your final arrangements yourself, or leave it to your loved ones who are already suffering from the grief and loss of your death compounding insult to injury?”

We all know for a fact, with absolute certainty, that we are all going to die some day, right? So why is it that most people are not talking about this? Why are financial planners not learning the best ways to plan their clients and families for their inevitable death? Why is it that, at the very least, everyone is not taking a few minutes to simply document their End of Life Plans and preferences for our loved ones?

Financial Planners Should Encourage an End of Life Plan

In addition to being the Founder of this website, I have worked as financial planner for over 23 years and currently own my own Wealth Management practice.

I mention this because, for the most part, the financial planning industry overlooks and ignores End of Life Plans, Pre Need Plans, and Final Expense Plans. These plans are not widely-recognized as an all-important additions to a comprehensive financial and retirement plan.

To prove this point, here is a fact: Prior to losing a loved one and experiencing how to plan a funeral myself, I had never heard some talked about this subject. This includes all of my 20+ years of studying, training, attending classes, getting licenses and certifications, and more.

How About You and Your Financial Plan?

Has your financial planner discussed this with you? Does your financial plan include your End of Life Plans and preferences? Are these details documented and written down in a safe place? Do you currently have a plan in place for your pre-arranged funeral or cemetery arrangements? Have you created a plan to specifically designate which monies will prepay funeral expenses and funeral costs? Do the people you love know what you really want? Have you notified them regarding the fact that you have taken care of these End of Life Plan details? Do they know where these plans and details are located?

You are Not Alone

If you do not currently have an End of Life Plan in place, you are not alone. Given my personal experience, I can tell you that losing my mother was, by far, the toughest day of my life. And like our situation, here is what happens in most cases. Just about the time when it starts to “sink in” that your loved one is really gone, and your emotions begin to elevate, all of a sudden you find yourself sitting in a Funeral Home or Cemetery, reviewing all of their funeral home services and planning a funeral. This is probably the last thing anyone wants to be doing during a difficult time like this.

Just Some of the Funeral Planning Challenges

• How do you transport the body? Where do you transport it? How soon?
• What vital statistics do we need to gather, and how soon?
• How soon afterwards should the funeral and/or memorial service be?
• How do you determine which Funeral Home, Cemetery, or Funeral Director?
• What if the deceased lives out of town?
• Sitting down with a Funeral Director to review all the details and options
• Try to figure out what your loved one “would have wanted”
• Making some incredibly difficult financial decisions
• Trying to figure out what type of memorial service your loved one “would have wanted”
• Did they want to be cremation or traditional burial?
• Choosing among many different types of caskets or cremation urns
• Where should the final resting place of their body or ashes be?
• How do you coordinate this with your religion/Church?
• Who should be invited, and how do you invite them?
• Arranging travel and accommodation plans for out-of-town guests
• Who will give the funeral eulogy? How to give a eulogy?
• How will this be paid for? Were there any burial insurance or funeral insurance policies?
• Who will speak at the memorial services? Which songs and prayers do you use?
• Do you have a gathering afterwards?
• How do you place an obituary? Who does this?
• Do you want funeral flowers or donations?
• Arranging funeral programs, sending “thank you” cards, and much more…

End of Life Plans Save Money

Another huge benefit to creating an End of Life Plan is that, in addition to saving your family from going through emotional challenges and making difficult decisions, you could very likely save your family thousands – or even millions – of dollars. The reason why is when someone dies, there are many financial matters that accompany the funeral planning such as funeral estate planning, estate taxes, death taxes, capital gains taxes, income taxes, insurance policy proceeds, investments, real estate, bank accounts, mortgages, other debts, and much more.

Plan Now – Don’t Wait!

A wise man once said, “The difference between failure and success is largely determined by the amount of time and preparation put into preparing for the future.” By creating a solid End of Life Plan – and then adding this as a part of a sound and comprehensive financial plan – nothing could be further from the truth!

End of Life Plan Steps

5 Easy Steps Create an End of Life Plan

The Greatest Gift Your Family Will Always Remember

Live As If There’s No Tomorrow

The truth is nobody likes to talk about death or dying. However, the unfortunate reality is that all of us will be forced to deal with this difficult situation at some point, and often times it happens when we least expect it.

Another harsh reality is that the large majority of financial professionals and families overlook or ignore the importance of incorporating a smart end of life plan as a part of a comprehensive financial plan.

I firmly believe that nobody would ever want their family and loved ones to have to deal with any unnecessary emotional and financial decisions (or costly expenses), during what could arguably be the worst times of their life. However, yet another harsh reality is that over 70% of people who die fail to leave their family and loved ones as much as a basic Will, also called a Last Will and Testament.

Use These 5 Easy Steps:

I’ve put together 5 easy steps that should help every family improve their financial plan, simply by adding these key pieces of a smart end of life plan:

• A budget for the funeral costs that will be involved
• Your preference on a burial or cremation
• The location of your burial, or where you wish your ashes scattered
• Decide if you want a large memorial service or a small one
• Pre-arrange the caskets or cremation urns you like
• Choose officiates and others you want to run or speak at your service
• Pick the funeral music and Video Tribute you wish to have played
• What you would want engraved on your tombstone

3. Create a “love drawer”, which is a central location where you keep all your end of life plans mentioned above. Choose someone to tell, and update it every two years.

• Consider funeral webcasting on the Internet, so everyone possible can “attend”
• Build your own personal DVD Video Tribute, complete with songs and pictures
• Create and design a memorial website, who loved ones can share together online

Benefits to You and Your Family

By taking these steps now and creating your end of life plan in advance, you are sending your family a very strong message – which says that you cared enough to make this difficult time a little easier. Not only with they thank you, but they will remember this selfless gift of love forever!